Jonathan Landau is aiming high near Downtown Brooklyn.
For his first New York development since going solo, the former CEO of Fortis Property Group is planning a 47-story residential tower at 205 Montague Street in Brooklyn Heights, according to an application filed this week with the Department of Buildings.
Landau is seeking approval to build a 410,000-square-foot, mixed-use building with 136 apartments on the site. It would stand 672 feet.
Hill West Architects is the architect of record.
The application also points toward the possible use of a neighboring property, at 195 Montague Street, and puts the entire project’s sellable and leasable space at 525,000 square feet. That includes 285,000 square feet for residential use and 240,000 square feet of commercial space.
Plans call for a restaurant to occupy a portion of the proposed building’s first two floors and a parking garage below ground. The residential component would likely be a condominium if the state does not replace the expired 421a tax abatement for rental projects, but the filings do not show Landau’s hand.
A representative of Landau Properties declined to comment.
Landau left Fortis as CEO in 2022, after standing up the Olympia Dumbo, which was on pace to break records as Brooklyn’s most expensive building.
The Cayre family’s Midtown Equities owns the site where Landau hopes to build his tower, having bought it in 2010 for $33 million. Midtown Equities did not immediately return a request for comment. The family had put the site up for sale in 2015, seeking $200 million.
At the time, the company had developed plans for both a 44-story and a 62-story tower at the site, Crain’s reported.
The new development project would sit near the Hudson Companies’ One Clinton, perhaps a comparable property where condos have sold for an average price of more than $1,700 per square foot, with recent contract signings topping $1,500 per square foot, according to StreetEasy. One Clinton was completed in 2020.
Landau’s other solo project to date is a luxury condominium asking nearly $2,000 per square foot on the Bay Harbor Islands in Miami.
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